Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1887-10-28
WEEKLY TRADE REVIEW.
CONDITION OF COMMERCE SHOWN
by FACTS AND FIGURES.
A Marked Improvement in Prices and
2 Stocks-Consumption Decreasing in
Leading Branches of Trade-Labor
Disturbances More Frequent.

NEW York, Oct. 22.-The markets show
the influence of two powerful opposing
snrces. A great expansion of currency, with
ease following stringency in money markets
of chief cities tends to lift prices and revive
speculation. But shrinkage in demand for
many products, the natural result of partial
failure of crops, makes distribution less act
i've and collections less prompt than many
expected, while losses in past specuations,
and the beginning of reaction in real estate,
make the prospect less favorable in some
sections.
The improvement in prices for which men
looked in vain week ago has appeared in
several markets. Stocks sank last Saturday
to the lowest average for seventeen months,
but have improved considerably during this
week. Wheat has risen 2ll cents, specula-
ton growing active at Chicago again. Corn
has advanced about l cent, though hogs and
pork products have slightly declined. Cot
ton is a shade higher, with large speculative
purchases based on reports of damaging
frosts. Oil has risen cents; sugar is made
strong by the formation of trust to control
refining; wool is more firm, though not
higher; the leather market is better and
prices of cattle are a shade higher Coffee
fell to 10 cents Wednesday, but has recov
cred slightly. Copper is an eighth lower,
but tin has advanced with some excitement.
Looking to leading branches OF trade and
industry, outside Of speculative markets, we
find signs of decreasing consumption. Steel
rails continue weak, and the fact comes out
that orders for 1888 delivery thus far cover
only Il, 900 tons new business. At Pittsburg
the demand is almost nil, and pig iron is
weaker. The reasoning that shrinkage in
railroad consumption will be compensated by
larger use in other directions is met by the
prospect that building of all sorts has gone
on at such a rate that reaction is probable,
and the abatement of real estate speculation
at many points checks further construction
for the time. Wool sales continue 40 per
cent. below those of last year at Boston, and
the goods trade offers no promise of improve
ment to manufacturers. Dry goods are
moderately active for the season, and some
kinds of cotton goods have been advanced,
but in other quarters distribution is found
less prompt than was expected; print cloths
are lower at 81 cents, and foreign goods
move slowly in all departments
The grocery trade shows the effects of
shrinking demand in several branches, and
the outlook is not regarded as entirely salts
factory. Butter is weak and unsettled; cof-
fee hesitates in part because distribution has
not yet met expectations; spices are dull for
the same reason, and tea is weakened 10y ac-
emulation of stocks. The boot and shoe
trade is satisfactory; good buying and good
paying are noted The northwest lumber
business is made more active by reduction
of rail rates, and the flour movement at Min
neapolis is large. Coal consumption in Sep
TENDER was also much larger than in the
same month last year, but the Lehigh strike
continues; a large strike of shoemakers at
Philadelphia has common ced, and labor dis
turbances are growing more frequent.
Interior towns generally report slow col
lections, though improvement is noted at st.
Paul, New Orleans and a few other points.
Money is still tight, or decidedly close at
many western cities, and closer than before
at Chicago, with continuing movement to
the country. While trade is GENERALLY re-
ported large in volume, and exchanges con-
tinue larger than last year, the sowness of
collections indicates less sltisfac Dry distri-
button than was anticipated.
The treasury still puts out money through
deposits with banks, and after taking large
amount of foreign bullion, holds but s400 600
more cash of all kinds than a week ago. The
New York banks find that the drain of money
to the interior has not yet ceased, as was ex-
pected Foreign trade for October shows an
increase of 2. per cent. in exports and per
cent. in imports, but the movement of Sc
curitics, upon which the monetary future
largely depends, has been for the past week
variable and uncertain
The business failures occurring throughout
the country during the last week number,
for the United States, 172 and for Canada
20, as compared with total of POP last week,
and PIP the previous.